SINGAPORE -- 4/20/2011, UNITED STATES--(Marketwire - Apr 19, 2011) - STATS ChipPAC Ltd. ("STATS ChipPAC") (SGX-ST: STATSChP) has been recognised to receive Intel Corporation's Preferred Quality Supplier (PQS) award for their performance in 2010. Along with 15 other companies, STATS ChipPAC is recognised for their significant contributions providing Intel with full turnkey packaging and test services, deemed essential to Intel's success.
"We are proud to be recognised as a Preferred Quality Supplier for Intel, a company that is admired around the world for its industry-leading quality and technology. This award is our fifth quality award from Intel and is a testament to our strong track record of operational excellence and unrelenting drive to improve quality, reliability and cycle time. We have a company-wide focus on being responsive and providing exceptional support to our customers," said Hal Lasky, Executive Vice President and Chief Sales Officer, STATS ChipPAC.
"Our sincere congratulations to STATS ChipPAC for winning the 2010 Preferred Quality Supplier Award," said Tim Lloyd, Global Materials Platform Outsourcing Director, Intel Corporation. "STATS ChipPAC is being recognised for their contributions in quality, cost initiatives, delivery, sustainability and support of Intel's packaging and test roadmap. Their commitment and performance has positioned them as a valuable supplier to Intel for over a decade and we look forward to even greater levels of success in 2011."
The PQS award is part of Intel's Supplier Continuous Quality Improvement (SCQI) program that encourages suppliers to strive for excellence and continuous improvement. To qualify for PQS status, suppliers must score 80 percent on a report card that assesses performance and ability to meet cost, quality, availability, technology and environmental, social and governance goals. Suppliers must also achieve 80 percent or greater on a challenging improvement plan and demonstrate solid quality and business systems. Additional information about the SCQI program is available at http://supplier.intel.com/quality.
A celebration to honor PQS award winners will be held in conjunction with Intel's Supplier Day in Scottsdale, Arizona. In addition, there will be an announcement on Intel's website at http://intel.com/.
Forward-Looking Statements
Certain statements in this release are forward-looking statements that involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, shortages in supply of key components and disruption in supply chain; general business and economic conditions and the state of the semiconductor industry; prevailing market conditions; demand for end-use applications products such as communications equipment, consumer and multi-applications and personal computers; decisions by customers to discontinue outsourcing of test and packaging services; level of competition; our reliance on a small group of principal customers; our continued success in technological innovations; pricing pressures, including declines in average selling prices; intellectual property rights disputes and litigation; our ability to control operating expenses; our substantial level of indebtedness and access to credit markets; potential impairment charges; availability of financing; changes in our product mix; our capacity utilisation; delays in acquiring or installing new equipment; limitations imposed by our financing arrangements which may limit our ability to maintain and grow our business; returns from research and development investments; changes in customer order patterns; customer credit risks; disruption of our operations; loss of key management or other personnel; defects or malfunctions in our testing equipment or packages; rescheduling or cancelling of customer orders; adverse tax and other financial consequences if the taxing authorities do not agree with our interpretation of the applicable tax laws; classification of our Company as a passive foreign investment company; our ability to develop and protect our intellectual property; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; majority ownership by Temasek Holdings (Private) Limited ("Temasek") that may result in conflicting interests with Temasek and our affiliates; unsuccessful acquisitions and investments in other companies and businesses; labour union problems in South Korea; uncertainties of conducting business in China and changes in laws, currency policy and political instability in other countries in Asia; natural calamities and disasters, including outbreaks of epidemics and communicable diseases; the continued trading and listing of our ordinary shares on the Singapore Exchange Securities Trading Limited ("SGX-ST"). You should not unduly rely on such statements. We do not intend, and do not assume any obligation, to update any forward-looking statements to reflect subsequent events or circumstances.
About STATS ChipPAC Ltd.
STATS ChipPAC Ltd. is a leading service provider of semiconductor packaging design, assembly, test and distribution solutions in diverse end market applications including communications, digital consumer and computing. With global headquarters in Singapore, STATS ChipPAC has design, research and development, manufacturing or customer support offices in 10 different countries. STATS ChipPAC is listed on the SGX-ST. Further information is available at